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Here's Why Pfizer (PFE) Fell More Than Broader Market
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In the latest trading session, Pfizer (PFE - Free Report) closed at $29.40, marking a -0.61% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.15%. Elsewhere, the Dow lost 0.42%, while the tech-heavy Nasdaq added 0.09%.
Heading into today, shares of the drugmaker had gained 3.28% over the past month, lagging the Medical sector's gain of 6.58% and the S&P 500's gain of 3.5% in that time.
The investment community will be closely monitoring the performance of Pfizer in its forthcoming earnings report. The company is scheduled to release its earnings on January 30, 2024. The company is forecasted to report an EPS of -$0.18, showcasing a 115.79% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.26 billion, down 41.28% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for Pfizer. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 28.08% fall in the Zacks Consensus EPS estimate. Currently, Pfizer is carrying a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Pfizer is holding a Forward P/E ratio of 13.29. This signifies a discount in comparison to the average Forward P/E of 14.45 for its industry.
We can additionally observe that PFE currently boasts a PEG ratio of 1.9. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Large Cap Pharmaceuticals industry held an average PEG ratio of 1.9.
The Large Cap Pharmaceuticals industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 156, positioning it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Here's Why Pfizer (PFE) Fell More Than Broader Market
In the latest trading session, Pfizer (PFE - Free Report) closed at $29.40, marking a -0.61% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.15%. Elsewhere, the Dow lost 0.42%, while the tech-heavy Nasdaq added 0.09%.
Heading into today, shares of the drugmaker had gained 3.28% over the past month, lagging the Medical sector's gain of 6.58% and the S&P 500's gain of 3.5% in that time.
The investment community will be closely monitoring the performance of Pfizer in its forthcoming earnings report. The company is scheduled to release its earnings on January 30, 2024. The company is forecasted to report an EPS of -$0.18, showcasing a 115.79% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.26 billion, down 41.28% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for Pfizer. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 28.08% fall in the Zacks Consensus EPS estimate. Currently, Pfizer is carrying a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Pfizer is holding a Forward P/E ratio of 13.29. This signifies a discount in comparison to the average Forward P/E of 14.45 for its industry.
We can additionally observe that PFE currently boasts a PEG ratio of 1.9. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Large Cap Pharmaceuticals industry held an average PEG ratio of 1.9.
The Large Cap Pharmaceuticals industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 156, positioning it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.